Contents - Index


Accounts: Lease - Overall

This is used to control the main lease settings for the deal.

Overall
This shows miscellaneous fields and settings for the lease.

The Post Date represents the date that the deal was posted against ALMSys. This is usually the same date as the deal date.

Type of Lease is used to tell you if this is an open (guaranteed) or closed-end lease.

Automatically Extend Lease when Billing? tells the billing procedure that it is OK to automatically extend the lease for an additional term of six when the lease term has been reached. When extended via billing, no notice of the extension is given.

This is a prepaid lease tells the accounting interface for billing to NOT export receivable records for this deal.

RVI Enrollment Reporting is used in conjunction with the RVI Enrollment Report.

Termination Decision is used to relate what action the customer took at termination.

Cash Flow
This provides a cash flow and profit report for the lease.

When the lease was saved, the Prorated and Capitalized Cost Reduction amounts were filled into the fields at the top. If these fields are zero and there are supposed to be values, then please fill them in. (Go to the Deal Calculations screen if you need to determine these amounts.) The reason that there are separate fields for these values is that when a deal is imported from an outside source, sometimes ALMSys does not know that they were part of the net capitalized costs or due on delivery amounts.

Press the Calculate Cash Flow button to update the cash flow calculations.

The cash flow calculations are automatically calculated on the following events:
  • New lease add
  • Depreciation change
  • Leveraged financing change
  • Base lease payment change
  • Payment defer
  • Payment due day change
  • Lease extension

    Cash Flow Calculations
    The first line of the grid is populated with the depreciation start value, the leveraged financing loan amount, the prorated amount (in the Base Lease Payment field), and the sum of the capitalized cost reduction and the prorated amount in the Monthly Cash Flow field.

    All lines after that run on a month-to-month calculation, based on when depreciation and leveraged financing starts. Base lease payments will populate based on the due dates in the amortization schedule. If you have a non-monthly lease payment, then the sum of the base payments found in each month will be presented.

    Leveraged financing will stop at the end of its amortization schedule. Lease payments will stop at the end of its amortization schedule. Depreciation does not stop and will be shown through the latest end date between lease payments and leveraged financing payments.

    Column values are as follows:
  • Depreciation Book Value. The book value for the month presented. If you have multiple iterations of depreciation, it will be reflected.
  • Leveraged Financing Principal Balance. The principal balance of the loan at the end of each month.
  • Leveraged Financing Interest. The estimated monthly interest payment.
  • Leveraged Financing Accumulated Interest. The running sum of leveraged financing interest.
  • Base Lease Payment. The amount of the lease payment before taxes.
  • Monthly Profit. Base lease payment minus the current month book depreciation minus the current month leveraged financing interest. (Payment - Deprecation - Interest)
  • Accumulated Profit. The running sum of monthly profit.
  • Monthly Cash Flow. Base lease payment minus the current month leveraged financing interest minus the current month leveraged financing principal. (Payment - bank payment)
  • Accumulated Cash Flow. The runnng sum of monthly cash flow.

    Distribution
    This shows how ALMSys internally disburses payments received. It also shows billing statistics and other calculations.

    Information conveyed on this screen is controlled by the starting and ending calendars. All balance and distribution information will be shown for the date range provided by these calendars. When changing the calendars, always press the Calculate button to obtain the new results.

    The total payments received for the date range are shown under the Received heading in the middle of the screen. The distribution breakdown is to the right of this, and what is remaining on the lease (after this distribution) is to the right of the distribution breakdown.

    Based on the billing and payment activity, the beginning and ending balances are shown on the left. Balance is usually calculated as beginning balance minus principal disbursed equals ending balance. However, ALMSys treats service charges owed as additional principal owed, so the difference in beginning and end service charges owed would affect balances.

    The last fully paid invoice information is shown as well as when the payoff (termination) occurred.

    The Billed box shows shows what has been billed for the date range provided.

    The Other Calculations box is for those that balance by lease receivables. Here, you will find lease receivables, unearned interest, late fee, and payments receivable calculations.

    Ledger Activity
    This shows what ALMSys would export as ledger journal entries, based on the current values. 

    Select the interface, the start date, the end date, and then click the Show Results button. Two grids will appear: one for detail entries and one that summarizes by ledger account. Tallies are shown at the bottom of the detail grid. If the Sum is not zero, then most likely you do not have ledger accounts assigned properly.

    Extend Lease
    This allows you to extend the lease by up to 24 periods. Lease extensions may only occur for:
  • Active leases
  • Leases with no skips
  • Leases with no lien on trade that not a GST registrant (Canada)
  • Leases with no non-taxable portions of the payment

    To extend the lease, select the number of periods to extend. Click the Proceed to Next Step button. A revised amortization schedule will be displayed for you to review. Click the Proceed to Next Step button. If all is acceptable, click the Extend the Lease button. You will be presented with printout of the revised extension.

    Lease extension cannot be undone. (However, the deal may be restored from a backup.) Cash flow schedules are automatically recalculated (and extended).

    If you balance by Lease Receivables and Unearned Interest, then a journal will be created (and displayed) for you to export. This journal will consist of the interest for the extended lease.